Teaching Your Kid To Save Money?

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Sorry to everyone who has tried to get to my site.  UCWebhost said they had a security exploit and shut the whole network down.  Turned out, they kind of lied and were bought out.  I will extend the giveaways by the number of days which were down, which if this posts today, that will be four.

This is my post from Monday, before I knew my site had gone done.  I’ll be back in a bit with a fresh post and new reviews! Have to get the kids off to school.  But can I hear a woohooo!!!!!  I’m back!!!!!

How was your mother’s day?  I hope you enjoyed it!  We spent the afternoon at my parents and had a great time! 

I got my mom a solar butterfly light for her garden and a little elephant mama and her baby for mother’s day.  (She collects elephants.) I got her 2 shirts for her birthday.  She requested something that was young looking.  So I got her one of those shirts that has a tattoo like pattern on it with pink glitter roses.  I told her she needed to wear that with leggings next time we go to the casino. :)  She thinks I’m funny.  I also got her this really pretty black shirt.  I would totally wear both of them so hopefully that’s youthful enough. 

I’d like to wish my mom a Happy Birthday today also!  Happy birthday mama!  I hope it’s wonderful!  You and dad have a great time out the Outback!  If you have some time, want to leave my mom a birthday greeting?  Her blog is here.

Speaking of her blog, she’s got some really cute pics of my kids up in this post.  Except it’s missing the picture of Nano in my dad’s work boots which was too stinking hilarious!

Alyce surprised me yesterday.  She is my shy shy shy one.  Usually when the cousins are together Alyce sits off to the side playing by herself.  For the first time yesterday she was running around playing with my niece Jadah (she’s 4, Alyce is 3).  They left and then Alyce was playing with Carter, her cousin who is only 3 months younger than she is.  (We have babies in groups in our family.)  On the way home she told me how nice her friends Jadah and Carter are to her.  I’m starting to think I should go ahead and put her in preschool this fall instead of waiting until next.  She really wants friends.  She talks about her friend Katiana all the time (her sister).  I was worried she would never come out of her shell but she has and she is blossoming.  It makes me happy to see her so content.

I didn’t post about this yesterday because it was Mother’s Day and I didn’t want it to be a complaining post, but I’ve got a question on how other moms teach their kids about saving money?  Jordan got $70 for his birthday back in February.  For the first time, I didn’t rush it over to the bank like I usually do.  I let him get some things that he had been wanting for awhile.  He had a few dollars left which surprised me because I didn’t see him spend that much.  He’s been collecting change, which is plentiful in our house and had $11.  We went to Gordman’s Saturday night and wanted to buy this cheap cheap, do I ever mean cheap looking bow and arrow set.  I told him no.  He needed to save his money.

He was mad.

Then we headed to Wal-Mart because I needed wrapping paper and cards.  He wanted this Star Wars action figure.  I didn’t realize that he had asked Pato and Pato said no.  I knew nothing about this action figure until he was stomping off to the car.  I took Jordan and Christiano out to the car while Pato, Kat, and Alyce were picking out my card for mother’s day.  On the way to the car Jordan tries to detour to the video game room.  I said, no, save your money.  Get in the car.  He’s stomping out the door.  Then he sees the vending machines and swerves towards them, but mom….I’m sooooooooo thirsty.  We are 5 minutes from home.  Save your money.  You don’t need to spend it on that.  He walked away from me to the next lane over from where my car was parked.  I said, Jordan get in the car.  He still walks on.  I follow him.  Jordan, get in the car.  Then he’s gone. 

My heart dropped to my stomach.  Where could he have gone.  He was right in front of me.  I’m searching all over. It’s dark.  I’m thinking the worst.  A gentleman kindly pointed out that my son was hiding in between two cars.  When he realized that I knew where he was, he started walking to the car.

I laid into him.  How dare you scare me like that!  You knew exactly what you were doing when you hid from me.  Do you know what that did to my heart?  I couldn’t see you.  I didn’t know what happened to you.  One second you were there, the next you were gone.  I think something along the lines of I swear to God you ever do that again to me, I’m going to whoop your butt in front of God and everyone came out of my mouth.  I was so upset.  Have you ever just wanted to strangle them and hug them because they’re safe all in the same moment?  30 seconds – max.  Petrified.  All because he couldn’t blow his money on whatever.

He keeps telling me things that he wants.  None of the things that he was picking up were on the want list.  He wants a HTC Hero when he can get a new phone in June.  Pato said they are $78 right now.  He’s willing to put $25 towards it.  Jordan has $11.  That’s $36.  He needs $42.  His dad & grandma give him opportunities to earn money when he’s there.  I’m willing to pay him to do things that are above and beyond his chores.  Jordan’s chores are to keep his room picked up and to empty the dishwasher and get the floor, table, and counters swept/cleaned off so that I can come in and wash everything.  I would be willing to pay him to clean up the bathrooms – a job neither Pato or I relish.  I’d be happy to pay him to clean out my car because his sisters are horrible.  I’d be willing to pay him to help me fold/hang and put clothes away.  (Pato never leaves money on the laundry card so we end up washing 8 loads at once, that’s a lot of clothes to put away.)  There’s tons of ways he can help after his chores are down to earn money.  He wants to skip his chores and go straight to the money earning part.  I’m sorry.  Chores come first.

He wants to get a mouse.  Again, no problem here.  As soon as he proves he’s responsible with keeping up with his chores.  Taking care of his own stuff.  And I want him to have the money to buy the mouse, buy the food, buy the stuff the mouse needs.  We have the cage already.  If it’s going to be his pet, no one else’s as he says, he needs to be able to take care of the things he is supposed to do now and have the means to take care of his pet. 

That’s not going to happen if you’re spending your money on the first cheap toy you see every time we go somewhere.

So, how do you teach your kids about saving money.  It was easy when he was younger.  We just put all his birthday money and change that he saved into an educational IRA that he can’t touch.  (Same with the girls.)  Now that he’s older though, he wants to be able to spend it.  I have no problem with putting half of the money into his IRA and the other half he can spend on what he wants, but I don’t want him to spend it on trivial junk.

On that note, I’m going to go get some stuff done.  My youngest 2 are still sleeping – shocking, I know!

Have a great day!

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